TURBO Act
Sponsored By: Senator McCormick, David [R-PA]
Introduced
Summary
Would expand capacity for transit-related tax-exempt bonds to let more freight facilities, commuter systems, and lower-speed intercity rail projects qualify for exempt facility financing. The bill changes bond limits and eligibility rules so a wider set of transit projects could use tax-exempt financing.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
More tax-exempt bonds for transit
If enacted, this bill would let more transit and freight projects use tax-exempt bonds. It would raise the national cap for highway and surface freight facility bonds from $30 billion to $45 billion. It would allow the purchase of rolling stock to be financed with mass commuting bonds. It would treat rail lines with a 110 mph top speed as high-speed for bond rules. All changes would apply to bonds issued after the date of enactment. State and local issuers, transit agencies, manufacturers, freight businesses, and commuters would be the main beneficiaries.
Sponsors & CoSponsors
Sponsor
McCormick, David [R-PA]
PA • R
Cosponsors
Sen. Duckworth, Tammy [D-IL]
IL • D
Sponsored 7/30/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov